Digital Health Startup Omada Snags Another $73 Million in Funding: Brainstorm Health

February 26, 2019

Sean Duffy, the co-founder and chief executive at digital health upstart Omada Health, approached the company’s new $73 million funding round with a philosophical question: “What will healthcare delivery look like in 20 years? How should it look?”

Duffy’s firm has taken a decidedly digital approach to the business of diabetes prevention and maintenance, creating an online platform that links patients to online coaches with the help of medical biometrics communicated via connected devices. The latest funding round was led by Wellington Management and joined by a host of big names from Kaiser Permanente Ventures to Andreessen Horowitz. CNBC reports that Omada’s overall VC haul now brings it to about a $600 million valuation, or more than halfway to “unicorn” status.

But Duffy’s vision, to borrow an entirely overused term, is to make the company a true disruptor through the use of sleek technology and personally tailored advice for patients—he even goes so far as to say the biggest and most effective health care providers of the future will be digital ones.

“Digital care means providing holistic, preemptive support to avoid the adverse outcome in the first place, instilling small changes that add up to powerful—and lasting—gains in health,” wrote Duffy in a post on Wednesday. “That’s our vision for Omada, and for healthcare: human-centered, elegantly designed digital experiences for patients. We can increase access to life-altering care, improve outcomes, and lower costs. We’re eager to help millions of people in their journeys to lifelong health, one step at a time. In short, it’s time to build the healthcare provider for the 21st Century.”

As I reported in Fortune‘s July issue, digital health firms enjoyed a record $8.1 billion in venture funding in 2018. The money doesn’t seem to be going away anytime soon.

Read the article here: Digital Health Startup Omada Snags Another $73 Million in Funding: Brainstorm Health